Blackrock MuniYield Fund Inc Stock Forecast
Blackrock MuniYield Fund Inc stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The Blackrock MuniYield Fund Inc stock price gained 0.273% on the last trading day (Wednesday, 27th Mar 2024), rising from $10.98 to $11.01. During the last trading day the stock fluctuated 0.548% from a day low at $10.95 to a day high of $11.01. The price has fallen in 6 of the last 10 days and is down by -0.63% for this period. Volume fell on the last day by -7 thousand shares and in total, 109 thousand shares were bought and sold for approximately $1.20 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a narrow and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.92 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.62% during the next 3 months and, with a 90% probability hold a price between $11.53 and $12.03 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MYD Signals & Forecast
There are few to no technical positive signals at the moment. The Blackrock MuniYield Fund Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $11.01 and $11.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -2.31%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Blackrock MuniYield Fund Inc stock
Blackrock MuniYield Fund Inc finds support from accumulated volume at $10.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0600 between high and low, or 0.548%. For the last week the stock has had daily average volatility of 0.564%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MYD) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Blackrock MuniYield Fund Inc to open at $10.99, and during the day (based on 14 day Average True Range), to move between $10.93 and $11.09, which gives a possible trading interval of +/-$0.0825 (+/-0.75%) up or down from last closing price. If Blackrock MuniYield Fund Inc takes out the full calculated possible swing range there will be an estimated 1.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.04 (0.27%) than the support at $10.98 (0.27%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Blackrock MuniYield Fund Inc stock A Buy?
The Blackrock MuniYield Fund Inc stock holds several negative signals and despite the positive trend, we believe Blackrock MuniYield Fund Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.193 Sell Candidate Downgraded
Predicted Opening Price for Blackrock MuniYield Fund Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$10.99 ( 0.182%) | $11.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.05 | 0.363 % | |
R2 | 11.03 | 0.155 % | ||
R1 | 11.01 | 0.0265 % | ||
Current price: | 11.01 | |||
Support | S1 | 10.97 | -0.390 % | |
S2 | 10.95 | -0.518 % | ||
S3 | 10.93 | -0.727 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.16 | 1.36 % | |
R2 | 11.08 | 0.636 % | ||
R1 | 11.04 | 0.272 % | ||
Current price | 11.01 | |||
Support | S1 | 10.98 | -0.272% | |
S2 | 10.96 | -0.454% | ||
S3 | 10.93 | -0.727% |
MYD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 01, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0525 | 0.477% |
2 | Nov 17, 2023 | Feb 14, 2024 | Mar 01, 2024 | $0.0525 | 0.467% |
3 | Nov 14, 2023 | Jan 11, 2024 | Feb 01, 2024 | $0.0525 | 0.485% |
4 | Nov 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0525 | 0.487% |
5 | Nov 01, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.0370 | 0.352% |
FAQ
Click here for our free guide on how to buy Blackrock MuniYield Fund Inc Stock.